October 28, 2021
Accenture Acquires BCS Consulting to Strengthen its U.K. Financial Services Consulting and Technology Services Capabilities
LONDON; Oct. 28, 2021 – Accenture (NYSE: ACN) has acquired BCS Consulting, a U.K. management consultancy that delivers complex business change for financial services firms. Headquartered in London, BCS Consulting’s 250 strong team joins Accenture’s U.K. Financial Services Strategy and Consulting practice. Terms of the transaction were not disclosed.
Founded in 2001, BCS Consulting drives major change programmes for the UK’s leading financial services firms across technology, finance, operations and risk and regulation. Its industry advisory expertise and experience in areas including payments, open banking, operational resilience, financial crime and cost optimisation, complements and strengthens Accenture’s existing industry consulting and technology capabilities. The acquisition builds on some of Accenture’s most recent financial services acquisitions — Mudano, Orbium and Parker Fitzgerald — and expands client offerings, creating new ways to deliver sustainable value with a deep understanding of client needs and market challenges.
“Financial services firms continue to contend with core challenges that have been intensified by the pandemic, such as unmanageable cost levels and digital disruption,” said Adam Markson, managing director in Accenture’s U.K. financial services strategy and consulting practice. "BCS Consulting has a strong track record helping firms address these issues. From designing solutions to technology implementation, BCS Consulting’s end-to-end capabilities help the sector create business models that drive new efficiencies and competitiveness, bolster resilience and keep pace with change."
Paul Brock, CEO of BCS Consulting, said, “Helping financial services firms navigate complex business change has been our priority since day one. Our industry focus, coupled with Accenture’s scale and scope and its expertise helping financial services firms across the world embrace change, will enable us to extend our capabilities to a broader client base. We’re excited to become part of one of the world’s leading companies and look forward to the opportunities this will bring to our employees and clients.”
Paul Stanley, head of financial services at Accenture in the U.K. and Ireland concluded, “The pandemic has created fundamental and permanent shifts in how consumers want to engage with financial services. Firms in the sector face a critical need to transform their business models to rapidly meet these shifting demands. We are delighted to welcome BCS Consulting to Accenture and together, we will help our clients deliver this much needed change at greater pace and scale. Furthermore, BCS Consulting’s focus on employee development aligns well to Accenture’s commitment to growing the next generation of financial services consultants, so we can best serve our clients both now and in the future.”
BCS Consulting is the sixth acquisition that Accenture has made in the U.K. in 2021 following the acquisitions of Edenhouse and Infinity Works in February, Cirrus and REPL in March and Xoomworks in October.
Accenture’s Financial Services industry group helps retail, commercial and investment banks, payments providers, wealth and asset managers, exchanges and insurers and reinsurers boost innovation; address business, technology and regulatory challenges; and improve operational performance to build trust and engagement with customers and grow more profitably and securely. To learn more, visit https://www.accenture.com/usen/industries/financial-services-index.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; The COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.
Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.
# # #
+44 77 8779 2214